Does the money that I owe in student loans factor into my credit score?
I am trying to manage my credit better and I have read on here that it’s best to use less than 30% of your total credit allowance, or else your credit score might drop. When figuring out how much of my credit allowance I am using, do I factor in how much I owe on my student loans as well? What about a car loan that I am a secondary signer on? Does that go on my credit score as well? Thanks!
Tags: Credit, factor, Into, Loans, Money, Score, Student, Student Loan
All debts factor into your credit score whether you are the primary signer or the co-signer.
Yes and yes. And if the first person on that car loan doesn’t pay or pays late, it affects your credit score as well. I hope it’s someone you trust…
Yep.
I am not sure about being the secondary signer. Do you mean co-signer? If so, yes, the student loan, auto loan, and this co-signing loan all take into consideration for your credit score. Because that mean you have lower ability to pay back loans and credit cards.